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There is a difference between Appraised Value and Fair Market Value (FMV). A professional appraisal is one opinion of what the value is based on historical data such as comps. It is typically used by lenders in order to establish what loan amount is appropriate for the property.
The FMV is determined by the opinion of many potential buyers who will place value on the property using a different method than an appraiser. For example, a potential buyer will use the proximity to their work or their kids school as a factor where an appraiser will not. Thus, the FMV will tend to be a little higher than an appraised value.
So, when trying to determine what price to list the home for sale an appraisal is usually not a great indicator of what potential buyers will be willing to pay. It is a good indicator of what a lender will be willing to lend. A realtor works with buyers and hears feedback and ultimately knows what buyers want and what they ...
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It’s already March and daylight savings is just around the corner. East County comes alive in the spring and summer. The locals come out to enjoy all the events that go on once the time has changed. The lifestyle out here in East County, thinking of La Mesa, El Cajon, and Santee, is a bit laid back compared to the hustle of the downtown, or beach areas.
For residents that have owned homes in East County for a last few years have been fortunate to see their property values go up rather dramatically compared to many other areas of San Diego County. In 2014 the average home sold for just over $275K, and today as I write this it appears home values are averaging around $485K. the city of La Mesa is also seeing a lot of attention to its Village area with several new trendy places to eat and hang out after a long day of work.
El Cajon will have their traditional car show along Main Street every Wednesday night all through spring and summer. You can check out some amazing custom ...
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